Jacobs Levy Equity Management Inc. Makes New Investment in Q32 Bio Inc. (NASDAQ:QTTB)

Jacobs Levy Equity Management Inc. bought a new position in shares of Q32 Bio Inc. (NASDAQ:QTTB) during the fourth quarter, Holdings Channel reports. The fund bought 34,844 shares of the company’s stock, valued at approximately $120,000.

Other institutional investors also recently bought and sold shares of the company. Hussman Strategic Advisors Inc. purchased a new position in Q32 Bio during the fourth quarter worth about $36,000. AXQ Capital LP purchased a new position in Q32 Bio during the fourth quarter worth about $36,000. Raymond James Financial Inc. purchased a new position in Q32 Bio during the fourth quarter worth about $37,000. Drive Wealth Management LLC purchased a new position in Q32 Bio during the fourth quarter worth about $38,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Q32 Bio during the fourth quarter worth about $42,000. 31.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on QTTB. BMO Capital Markets downgraded shares of Q32 Bio from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $22.00 to $3.00 in a research note on Tuesday, February 11th. Wells Fargo & Company reduced their price target on shares of Q32 Bio from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. Finally, Piper Sandler downgraded shares of Q32 Bio from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $20.00 to $4.00 in a research note on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Q32 Bio presently has an average rating of “Hold” and an average target price of $24.71.

Q32 Bio Price Performance

Q32 Bio stock opened at $1.77 on Monday. The company’s 50 day simple moving average is $1.79 and its 200-day simple moving average is $8.48. The company has a market capitalization of $21.59 million, a price-to-earnings ratio of -0.12 and a beta of -0.02. Q32 Bio Inc. has a 1 year low of $1.38 and a 1 year high of $53.79. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53.

Q32 Bio (NASDAQ:QTTB) last announced its earnings results on Thursday, May 8th. The company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($1.23) by $0.33. As a group, equities research analysts expect that Q32 Bio Inc. will post -12.32 earnings per share for the current year.

Q32 Bio Company Profile

Q32 Bio Inc, a clinical-stage biotechnology company, develops biologic therapeutics to restore healthy immune balance in patients with autoimmune and inflammatory diseases driven by pathological immune dysfunction in the United States. Its lead product candidate is ADX-097, a humanized anti-C3d monoclonal antibody fusion protein to restore complement regulation, which has completed Phase I clinical trial for the treatment of renal and other complement-mediated diseases of high unmet need, including lupus nephritis, immunoglobulin A nephropathy, complement component 3 glomerulopathy, and anti-neutrophil cytoplasmic antibody-associated vasculitis.